ANNUAL REPORT
eXtract to choose contract bids more carefully
eXtract Group would be more selective in the mining contracts it tendered for, assessing each project on a return-of-risk basis, and if its criteria were not met it would step away, CEO Justin Colling said in the group’s annual report this week. Conditions for mining contractors would remain tough. As the platinum and chrome prices had firmed, eXtract would try to align its strategy with stronger-performing commodities. eXtract is Eqstra’s rebranded mining-contracting division, which was listed as a separate entity after enX Group took over Eqstra’s fleet management and logistics and industrial equipment divisions in September. enX holds 20% of eXtract. Since the annual general meeting in November, eXtract has been chaired by mining veteran Bernard Swanepoel, who left Harmony Gold Mining in 2007 to start To The Point Growth Specialists. Other mining veterans on eXtract’s board include Chamber of Mines president Mike Teke and recently retired CEO of Exxaro Resources Sipho Nkosi. Depa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.